Lacker says Fed can't ease structural joblessness

WASHINGTON (Reuters) - Further monetary stimulus would not do much for a U.S. labor market that is plagued by longer-term, structural issues such as skills mismatches, Richmond Federal Reserve Bank President Jeffrey Lacker said on Monday.

Just three months after Atlanta Fed president Dennis Lockhart announced he would step down as president effective February 28, moments ago another (non-voting) FOMC member, the uber-hawkish president of the Richmond Fed, Jeffrey Lacker, 61, also decided to call it quits as well, and on Tuesday said he will retire as president and chief executive officer of the Federal Reserve Bank of Richmond on Oct. 1, after 28 years at the Richmond Bank.